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GOVERNMENT OF T AMIL NADU Manuscript Series

2015

FINANCE (LOANS AND ADVANCES CELL) DEPARTMENT

G.O.No.213, Dated 23rd July 2015

(Manmatha, Aadi 7 , Thiruvalluvar Aandu 2046)

INTEREST - Rate of interest on Loans and Advances sanctioned by the State

Government - Interest rates for the year 2015-2016 - Orders - Issued.
------------------------
READ - the following paper:

G.O. Ms. No.186, Finance (Loans and Advances Cell)

Department, dated 8.7.2014.
* * ** *
ORDER:

Government directs that the rate of interest on various kinds of loans and
advances by the State Government during the year 2015-16 shall be as shown below:-

sll Percent per

Class of Loan I Advance annum for the
No. year 2015-2016
1. Loans to State owned Industrial I Commercial
Undertakings I Corporations, etc. includ in g Financial
I Corporations and all other Local Bodies an d Municipal
I Corporations:
(a) Plan Schemes for development purposes 11.50

I (b) Other Schemes 11.50

nC) For capital formation and development pur po ses 11.50
I (d) For Working Capital Support 13.50
(e) For Ways & Means advances, advances 111 eluding loans 13.50
to cover cash deficits
(f) For Ways & Means advance to Tamil Nad u Civil Supplies 10.00
I Corporation Limited for Public Distribution Sy stem
.-
 2

I SI. I Percent per

Class of Loan I Advance annum for the
, No. I
year 2015-2016
2. I Loans to Co-operative Institutions and Co-operative Banks 10.00
;:-j like Land Development Bank
r-3. Loans to Government Servants . --
(i) House Building Advance:
(a) For loans upto Rs.50,0001- 5.50
.- -

(b) For loans from Rs.50,001/- to 1,50,0001- 7.00

._,-
(c) For loans from RS.1 ,50,001/- to 5,00,0001- 9.00
I (d) Above Rs.5,00,0001- 10.00
I

Conveyance Advance:
I
~ii) _.- --
I (a) For purchase of Motor car 11.50

I (b) For purchase of Motor Cycle 1 Scooter 9.00

Ir- (c) For purchase of Bi-cycle 5.50

---

I (iii) Other Personal Loans to Government Servants:

(a) For purchase of Computer 10.00
(b) Others 10.00

t~~~
!

Other items:
I i Loans' which are not covered in any specific category 12.75 I
I

I 5. i

I
mentioned above
~---:---------------

k- Value of seized stock

1955
under Essentla. I Commodities
..
Act, 1= 6.50
----,II

l 6. -l Penal Interest ===2=.5=0=====

2. The above rates will be applicable for all loans and advances being
sanctioned during the year 2015-2016 and will have validity till the next revision is done
by the State Government.

3. The rates of interest are general and will not apply to cases where reduced
rates of interest have been sanctioned specially by the Government or where loans
have been sanctioned by the Government free of interest. The Government may also
sanction Ways and Means advances at special rates of interest taking into account, the
cost of borrowing of the Government.
 -------_. -----------

4. The mobilization advances to Contractors for World Bank assisted Projects

wherein the standard bidding documents provide for exemption from paying of interest
are however exempted from payment of interest.

5. The penal interest on all overdue instalments of principal and interest will be
at 2.50 per cent more than the normal rates of interest per annum.

6. Except in the case of loans to Government Servants, interest in all cases

unless specifically indicated otherwise should be paid every Calendar quarter on the
outstanding balance.

7. Even at the stage of sanction of loan, in the sanction order, the period of
repayment, rate of interest and schedule of repayment with dates shall be indicated. In
case, it is a permanent loan, a specific mention of this fact should be made in the
. sanction order itself.

(BY ORDER OF THE GOVERNOR)

K. SHANMUGAM
PRINCIPAL SECRETARY TO GOVERNMENT

To

All Additional Chief Secretaries 1 Principal Secretaries 1 Secretaries to Government,

Secretariat, Chennai - 600 009.
The Secretary, Legislative Assembly, Secretariat, Chennai - 600009.
The Secretary to the Governor, Chennai - 600032
The Comptroller, Governors Household, Raj Bhavan Chennai - 600032.
The Governor's Secretariat, Raj Bhavan, Guindy, Chennai - 600 032.
All Department of Secretariat (OP/Bills), Chennai -600 009.
All Heads of Departments.
All Collectors/ All District Judges 1 All Chief Judicial Magistrates.
The Principal Accountant General (A & E), Chennai -- 600018
The Principal Accountant General (G&SSA) Chennai - 600018
The Principal Accountant General (E&RSA ), Chennai - 600 018.
The Accountant General (CAB), Chennai - 6000091 Madurai.
The Registrar General, High Court, Chennai - 600 104.
The Chairman, Tamil Nadu Public Service Cornrnissron, Chennai-600 003.
The Registrar of all Universities in Tamil Nadu.
The Director of Treasuries and Accounts, Chennai-600 015.
The Director of Pension, DMS Complex, Chennai-600 006.
The Director of Local Fund Audit, Chennai - 600 0108.
The Pension Pay Officer, Chennai 600 006.
The Pay and Accounts Officer Secretariat, Chennai-600 009.
The Pay and Accounts Officer (North/ Southl East), Chennai-600 001/600035/600008.
 4

The Pay and Accounts Officer, Madurai - 625 001.

All Treasury Officers / Sub - Treasury Officers.
The Commissioner of Disciplinary Proceedings,Kuralagam Chennai - 600 108.
The Commissioner, Corporation of Chennai / Madurai / Coimbatore/ Tiruchirapalli /
Salem / Tirunelveli / Tuticorin / Vellore / Tirupur / Erode.
All State Owned Corporations and Statutory Boards.
All Divisional Development Officers/ Revenue Divisional Officers/ Tahsildars.
All Block Development Officers/ Municipal Commissioners.
All Chief Educational Officers/ Panchayat Union Commissioners.
The Project Co-ordinator, Tamil Nadu Integrated Nutrition Project, No.570,
Anna Salai, Chennai -600 018.
Copy to:
The Secretary to Hon'ble Chief Minister, Chennai - 600 009.
The Special Personal Assistant to Hon'ble Minister, Finance, Chennai -.600 009.
The Private Secretary to Chief Secretary to Government, Chennai - 600 009.
The Private Secretary to Principal Secretary to Government, Finance Department,
Chennai -.600 009.
The Private Secretary to Principal Secretary (Expenditure) to Government, Finance
Department, Chennai -600 009.
Stock File / Spare Copies.

11 FORWARDED I BY ORDER 11